Pi Labs Growth Programme 2022 Moonhub founders image credit Pi Labs e1644855121625

DEALS | Workplace training goes virtual

Backed by Pi Labs, startup Moonhub has raised $2.6m in seed funding for its VR training tools.

Aiming to create immersive experiences to help shore up employee retention and cut training costs, the startup’s platform simulates lifelike scenarios with 360-degree learning environments.

Moonhub, which counts Just Eat and the Royal Opera House among its clients, pointed to research from Accenture suggesting that VR training has the potential to result in 75% higher knowledge retention over traditional learning methods.

Meanwhile, using VR can save companies up to 64% in learning and development spend, the startup said.

Hybrid working is another driver for growth in the sector: as employees become increasingly dispersed physically, VR offers a way of onboarding and upskilling them remotely.

Moonhub’s seed round was led by Pi Labs with participation from Ada Ventures, 1818 Venture Capital and several angel investors.

Faisal Butt, CEO and founder of Pi Labs, said: “From our perspective as proptech investors, the evolution of workplace strategies will require businesses to identify skills gaps and develop targeted training strategies for geographically dispersed workforces.

“The fact that MOONHUB can be deployed across multiple sectors, to accelerate onboarding, improve performance and enhance soft skills, means that the market for this in the years to come will be seismic. Especially with hybrid working here to stay, almost all companies will need to embrace VR training solutions to attract, retain and develop talent.”

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